(1) The board of directors of Oregon Community Power shall establish rates for the provision of electricity within the service territory of Oregon Community Power using the procedure set forth under ORS 757.897.
(2) The board shall establish a rate structure under which rates that apply to a specific class of customers are designed to recover the costs of providing electricity and related services to that class of customers.
(3) The rates adopted by the board shall be sufficient to accomplish the following purposes:
(a) To properly maintain and operate all Oregon Community Power property and facilities;
(b) To recover the overall costs of the electric utility operations of Oregon Community Power;
(c) To reflect the income tax exempt status of Oregon Community Power so that the savings from tax exemption accrue to the benefit of the customers of Oregon Community Power;
(d) To pay all franchise fees, in lieu payments, privilege taxes and other charges and assessments that are properly imposed on Oregon Community Power or the property or facilities of Oregon Community Power;
(e) To pay principal and interest on all bonds, warrants or other obligations of any character in accordance with the terms and provisions of the obligations, including but not limited to bonds issued by Oregon Community Power for an acquisition described in ORS 757.812 to 757.950;
(f) To pay any other indebtedness or obligation for which Oregon Community Power may be obligated to pay;
(g) To pay any debt administration costs associated with bonds, warrants, obligations or other indebtedness described in paragraphs (e) and (f) of this subsection;
(h) To fund operating reserves in sufficient amounts to ensure the continued efficient operation of Oregon Community Power; and
(i) To establish and maintain any special funds that Oregon Community Power is obligated to create for the purpose of paying bond issues or other obligations. [2007 c.807 §22]
Note: See note under 757.812.
Section: Previous 757.868 757.870 757.872 757.880 757.883 757.886 757.890 757.895 757.897 757.900 757.902 757.905 757.910 757.915 757.918 NextLast modified: August 7, 2008